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The article reports that Sequoia Capital, a 51-years old stalwart of the venture-capital industry, announced on June 6, 2023 that it would split into separate American, Chinese and Indian businesses. It informs that the Chinese branch will be known as HongShan, the mandarin word for redwood. It further informs that investors and bankers in China have seized on Sequoia's decision.

The article reports that plunging share prices at companies that have gone public have made venture capital firms much warier about investing in India. It mentions that prizing unrealistic valuations has given way to worrying about how quickly startups might begin to make money. It also mentions that re-evaluating what startups might be worth is now the foremost concern of all India's venture capital firms.

The article reports on the survey which reveals that global venture capitalists (VC) have preferred China for manufacturing investment, and favored India for research and development and engineering. The survey shows that capital investment overseas has only a 1% increase in the number of U.S. firms planning to expand offshore investments in the future. Mark Jensen of Deloitte & Touche LLP says that there is as much interest in investing in the U.S. as there is in overseas investment.